A company's market is characterized be frequently changing product demand and pressure for short lead times. The company also faces intense competition. To enhance its competitiveness, the company should stress which of the following strategies?

Question

Quizplus · Accepted Answer

The company should reduce cycle times to meet the pressure of short lead times and to respond quickly to the changing product demand. This will enhance its competitiveness by increasing its ability to deliver products faster than its competitors. Increasing the labor force or increasing WIP inventory may not be effective solutions and matching competitor's prices may not be sustainable in the long term.

A Company's Market Is Characterized Be Frequently Changing Product Demand